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Oct 20 - 07:55 AM

EUR/USD - A Good Day For Traders As EUR/USD Vaults 55-DMA And 1.1800

By Jeremy Boulton  —  Oct 20 - 05:50 AM
  • EUR/USD traders are broadly long and today seeing pair rise

  • EUR/USD vaults 1.1800 reaching 1.1809 EBS. 55-DMA is 1.1796

  • Daily cloud top is 1.1849 and likely represents stiff resistance

  • Expected U.S. stimulus a probable driver of these fresh EUR/USD gains

  • Stimulus weighs USD & underpins risk taking, will to hold raise EUR/USD bets

  • Despite today's action, trade since Sep 1 has disappointed bulls

  • Probability of a deeper setback towards year-end remains high nL8N2HB1UU



EURUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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